This is the 'table-top' version of the Wang 703, which essentially provides
an 8-level punched paper tape reader for allow data to be read into the
Wang 700-Series calculator from punched tape.

Wang 703 Advanced Punched Tape Data Editor
Image Courtesy Serge Devidts
This appears to be an enhanced, rackmount version of the earlier Wang 703
pictured above, adding a punchboard and switch settings to allow for
configuration of tape blocking, delimiter, and other functions which gave
the device diverse options for properly formatting the data for proper ingest
into the Wang 700-Series calculator